Biden wants to increase the Corporate Tax Rate from 21% to 28%

[usmcstinger]

What effect will it have on the US Economy?

Not even close to enough. Should be 39%.

Good number. And capital gains should be taxed the same as earned income. And the cap on income subject to the Social Security tax should be eliminated. Corporations pay a much smaller share of total taxes paid. In the booming 50's the corporate tax accounted for almost half of all revenue, by the 60's it had dropped to about a third. But the US economy was blazing, double digit growth in GDP through most of that time. Today, corporate taxes don't amount to a tenth of total taxes. You can almost track GDP growth by the percentage of the total tax burden corporation pay. The higher that percentage the higher GDP growth.

• A corporate income tax rate closer to that of other nations will discourage profit shifting to lower-tax jurisdictions.
• New investment will increase the size of the capital stock, and productivity, output, wages, and employment will grow. The Tax Foundation Taxes and Growth model estimates that the total effect of the new tax law will be a 1.7 percent larger economy, leading to 1.5 percent higher wages, a 4.8 percent larger capital stock, and 339,000 additional full-time equivalent jobs in the long run.
• If lawmakers raised the corporate income tax rate from 21 percent to 25 percent, we estimate the tax increase would shrink the long-run size of the economy by 0.87 percent, or $228 billion. This would reduce the capital stock by 2.11 percent, wages by 0.74 percent, and lead to 175,700 fewer full time equivalent jobs.
• Obviously you have no understanding of Basic Economics. However, it must make sense in your delusional thought process.
  
  

 

[Crepitus]

What effect will it have on the US Economy?

Not even close to enough. Should be 39%.

Good number. And capital gains should be taxed the same as earned income. And the cap on income subject to the Social Security tax should be eliminated. Corporations pay a much smaller share of total taxes paid. In the booming 50's the corporate tax accounted for almost half of all revenue, by the 60's it had dropped to about a third. But the US economy was blazing, double digit growth in GDP through most of that time. Today, corporate taxes don't amount to a tenth of total taxes. You can almost track GDP growth by the percentage of the total tax burden corporation pay. The higher that percentage the higher GDP growth.

• A corporate income tax rate closer to that of other nations will discourage profit shifting to lower-tax jurisdictions.
• New investment will increase the size of the capital stock, and productivity, output, wages, and employment will grow. The Tax Foundation Taxes and Growth model estimates that the total effect of the new tax law will be a 1.7 percent larger economy, leading to 1.5 percent higher wages, a 4.8 percent larger capital stock, and 339,000 additional full-time equivalent jobs in the long run.
• If lawmakers raised the corporate income tax rate from 21 percent to 25 percent, we estimate the tax increase would shrink the long-run size of the economy by 0.87 percent, or $228 billion. This would reduce the capital stock by 2.11 percent, wages by 0.74 percent, and lead to 175,700 fewer full time equivalent jobs.
• Obviously you have no understanding of Basic Economics. However, it must make sense in your delusional thought process.
  

This is the largest market on the planet. They won't leave.

 

[DudleySmith]

Why not lower the tax rates in half, and start taxing all the crap that is allowed stupid deductions and exemptions on overseas profits and put tariffs on crap sent from dictatorships like Red China running labor racketeering operations?

 

[DudleySmith]

What effect will it have on the US Economy?

Not even close to enough. Should be 39%.

Good number. And capital gains should be taxed the same as earned income. And the cap on income subject to the Social Security tax should be eliminated. Corporations pay a much smaller share of total taxes paid. In the booming 50's the corporate tax accounted for almost half of all revenue, by the 60's it had dropped to about a third. But the US economy was blazing, double digit growth in GDP through most of that time. Today, corporate taxes don't amount to a tenth of total taxes. You can almost track GDP growth by the percentage of the total tax burden corporation pay. The higher that percentage the higher GDP growth.

• A corporate income tax rate closer to that of other nations will discourage profit shifting to lower-tax jurisdictions.
• New investment will increase the size of the capital stock, and productivity, output, wages, and employment will grow. The Tax Foundation Taxes and Growth model estimates that the total effect of the new tax law will be a 1.7 percent larger economy, leading to 1.5 percent higher wages, a 4.8 percent larger capital stock, and 339,000 additional full-time equivalent jobs in the long run.
• If lawmakers raised the corporate income tax rate from 21 percent to 25 percent, we estimate the tax increase would shrink the long-run size of the economy by 0.87 percent, or $228 billion. This would reduce the capital stock by 2.11 percent, wages by 0.74 percent, and lead to 175,700 fewer full time equivalent jobs.
• Obviously you have no understanding of Basic Economics. However, it must make sense in your delusional thought process.
  

Obviously you read a lot of silly crap put out by PR hacks and think it's 'basic economics'.

 

[Blues Man]

Why not lower the tax rates in half, and start taxing all the crap that is allowed stupid deductions and exemptions on overseas profits and put tariffs on crap sent from dictatorships like Red China running labor racketeering operations?

Tariffs are never good.

 

[marvin martian]

What effect will it have on the US Economy?

Exactly the effect Democrats are desiring - higher unemployment, lower wages, more outsourcing to their interests in other countries (China especially), and more Americans on welfare.

 

[Flash]

The Dufus that wants to raise taxes can't even walk up stairs

 

[task0778]

Why not ..... put tariffs on crap sent from dictatorships like Red China?

Just concentrating on this part of your question. When you put a tariff on any import, you are basically raising the price of that product or commodity to American consumers and businesses. The theory is that by increasing the price, American consumers will buy less of whatever the import product is, which harms the country/business that shipped the product to the US. BUT - the consequence is that country will reciprocate in some way; maybe they slap a tariff on our agricultural products that hurts American farmers, or take some other action against our businesses that send stuff to them. So - we get fucked in at least 2 ways, their stuff costs us more to buy it and our stuff becomes more expensive or even gets denied entry in the first place as the other country goes to another source for what we used to sell them.

It's kinda like that, and that' why tariffs suck, really for everybody. I liked most of Trump's policies that he did during his 4 years, but IMHO his tariffs were not a good idea. For sure China needs to be dealt with cuz they are stealing our proprietary stuff, but using tariffs is not the way to do it.

 

[marvin martian]

The Dufus that wants to raise taxes can't even walk up stairs

Jesus, if he were a horse they would have shot him.

 

[Flash]

The Dufus that wants to raise taxes can't even walk up stairs

Jesus, if he were a horse they would have shot him.

I don't know your age but if you are an old fart like me do you remember when Saturday Night Live was relentless when Gerald Ford had a little stumble going up the stairs to AF1?

I doubt the Hollywood Limousine Libtards will ridicule President Dufus.

 

[Flash]

We need to get President Dufus one of these

 

[francoHFW]

What effect will it have on the US Economy?

The money will be used to help the people who need it cheap college and training many more vaccinations and will lead to a healthy economy again. For the first time since before Raygun.

 

[usmcstinger]

What effect will it have on the US Economy?

The money will be used to help the people who need it cheap college and training many more vaccinations and will lead to a healthy economy again. For the first time since before Raygun.

There are people who have made poor choices in life, dropped out of HS, got pregnant, as well as mental disorders, personality disorders with some having been highly educated. Everyone living in this country is free to become all they can be. Unfortunately, many lack a strong work ethic. You just can't fix it.

 

[francoHFW]

What effect will it have on the US Economy?

The money will be used to help the people who need it cheap college and training many more vaccinations and will lead to a healthy economy again. For the first time since before Raygun.

There are people who have made poor choices in life, dropped out of HS, got pregnant, as well as mental disorders, personality disorders with some having been highly educated. Everyone living in this country is free to become all they can be. Unfortunately, many lack a strong work ethic. You just can't fix it.

B*******. People did not magically get lazy and stupid as the GOP base is brainwashed into believing, it is give away to the rich screw everyone else GOP tax rates and policies the last 40 years. It's going to change way overdue. Mario Cuomo said Ronald Reagan made blaming the poor acceptable. Along with all the other disastrous legacies he has left including your brainwash propaganda machines. Change the channel.

 

[francoHFW]

What effect will it have on the US Economy?

The money will be used to help the people who need it cheap college and training many more vaccinations and will lead to a healthy economy again. For the first time since before Raygun.

There are people who have made poor choices in life, dropped out of HS, got pregnant, as well as mental disorders, personality disorders with some having been highly educated. Everyone living in this country is free to become all they can be. Unfortunately, many lack a strong work ethic. You just can't fix it.

You mean the pay is so low that people cannot survive on these jobs? Great job!

 

[usmcstinger]

What effect will it have on the US Economy?

Not even close to enough. Should be 39%.

Good number. And capital gains should be taxed the same as earned income. And the cap on income subject to the Social Security tax should be eliminated. Corporations pay a much smaller share of total taxes paid. In the booming 50's the corporate tax accounted for almost half of all revenue, by the 60's it had dropped to about a third. But the US economy was blazing, double digit growth in GDP through most of that time. Today, corporate taxes don't amount to a tenth of total taxes. You can almost track GDP growth by the percentage of the total tax burden corporation pay. The higher that percentage the higher GDP growth.

• A corporate income tax rate closer to that of other nations will discourage profit shifting to lower-tax jurisdictions.
• New investment will increase the size of the capital stock, and productivity, output, wages, and employment will grow. The Tax Foundation Taxes and Growth model estimates that the total effect of the new tax law will be a 1.7 percent larger economy, leading to 1.5 percent higher wages, a 4.8 percent larger capital stock, and 339,000 additional full-time equivalent jobs in the long run.
• If lawmakers raised the corporate income tax rate from 21 percent to 25 percent, we estimate the tax increase would shrink the long-run size of the economy by 0.87 percent, or $228 billion. This would reduce the capital stock by 2.11 percent, wages by 0.74 percent, and lead to 175,700 fewer full time equivalent jobs.
• Obviously you have no understanding of Basic Economics. However, it must make sense in your delusional thought process.

This is the largest market on the planet. They won't leave.
[/QUOTE
They did under Obama! Your lack of basic economics is quite overwhelming.

 

[usmcstinger]

What effect will it have on the US Economy?

The money will be used to help the people who need it cheap college and training many more vaccinations and will lead to a healthy economy again. For the first time since before Raygun.

There are people who have made poor choices in life, dropped out of HS, got pregnant, as well as mental disorders, personality disorders with some having been highly educated. Everyone living in this country is free to become all they can be. Unfortunately, many lack a strong work ethic. You just can't fix it.

B*******. People did not magically get lazy and stupid as the GOP base is brainwashed into believing, it is give away to the rich screw everyone else GOP tax rates and policies the last 40 years. It's going to change way overdue. Mario Cuomo said Ronald Reagan made blaming the poor acceptable. Along with all the other disastrous legacies he has left including your brainwash propaganda machines. Change the channel.
[/QUOT
For decades, the Democrats have done nothing to make life better for Inner City Blacks. They don't believe Blacks have the ability to think for themselves. The Dems know what is best for them. They keep them poor so they can be manipulated with little effort. Evidently, the Dems are scared to hell knowing Trump got the highest percentage of the Black Vote ever. Why do you think they are all hyped up to use illegals to take their place? The Dems have become domestic enemies who make every effort to violate our Constitution.

 

[Flash]

Why not reduce Federal spending and reduce taxation?

That is the only common sense thing to do.

 

[francoHFW]

What effect will it have on the US Economy?

The money will be used to help the people who need it cheap college and training many more vaccinations and will lead to a healthy economy again. For the first time since before Raygun.

There are people who have made poor choices in life, dropped out of HS, got pregnant, as well as mental disorders, personality disorders with some having been highly educated. Everyone living in this country is free to become all they can be. Unfortunately, many lack a strong work ethic. You just can't fix it.

B*******. People did not magically get lazy and stupid as the GOP base is brainwashed into believing, it is give away to the rich screw everyone else GOP tax rates and policies the last 40 years. It's going to change way overdue. Mario Cuomo said Ronald Reagan made blaming the poor acceptable. Along with all the other disastrous legacies he has left including your brainwash propaganda machines. Change the channel.
[/QUOT
For decades, the Democrats have done nothing to make life better for Inner City Blacks. They don't believe Blacks have the ability to think for themselves. The Dems know what is best for them. They keep them poor so they can be manipulated with little effort. Evidently, the Dems are scared to hell knowing Trump got the highest percentage of the Black Vote ever. Why do you think they are all hyped up to use illegals to take their place? The Dems have become domestic enemies who make every effort to violate our Constitution.

The Democrats have been totally obstructed the last 40 years. It's time to go nuclear and get back our leadership of the free world socially speaking....

 

[Brain357]

Unlikely. Decreasing it a lot sure didn’t help the economy, just added to debt.